The 50:50 joint venture, Beagle Asia Pacific Pty Ltd, will focus on selling Beagle’s technology to Australian and New Zealand companies. Beagle’s doc review tech focuses on what it calls TANR or Technology Assisted Narrative Review.
Beagle’s TANR digests and identifies important elements within text at about one page per second, and then learns the specific way that a company manages those elements, such as compliance rules and internal practice rules.
It is aimed at a broad group of people within a company, not just inhouse lawyers, who may need to review documents, for example, a procurement contract. Though the system can be used by external law firms to review contracts if they wished to, many of the company’s users are corporates, including VW in Germany.
‘This is an AI-based narrative review which gives clients the benefits of AI without having to commit to the expensive and lengthy process which is the current norm,’ said Corrs Chambers Westgarth partner, James Whittaker.
‘Instead of adopting the common reactive approach of other software platforms in the market which look at what a company has agreed to previously, this platform is focused on quickly learning what is needed by a company based on its own policies and culture, and then helping decision makers stay within those boundaries,’ said Beagle Founder, Cian O’Sullivan.
The product is being introduced to the market as a pilot program for a select number of Corrs’ clients, though the platform will ultimately be available to all businesses in Australia and New Zealand.
The Beagle JV is both Beagle and Corrs’ first joint venture and reflects Corrs’ strategy to embrace new technology.